Flywire Corp (NASDAQ: FLYW)

Flywire is a leading global payments enablement and software company that provides a next generation payments platform, a proprietary global payment network, and vertical specific software to help clients in education, healthcare, travel, and B2B sectors receive and manage payments.

Flywire generates revenue primarily from transaction fees on the payment volume processed through its platform, subscription fees for its vertical specific software, and service fees for value added offerings such as payment plans and currency hedging. For the fiscal year ended December 31, 2025 the company reported revenue of $623.0 million, up from $492.1 million in 2024 and $403.1 million in 2023.

The company operates through the following segments: Education, Healthcare, Travel, and B2B.

• Education: This segment serves educational institutions by offering tuition payment solutions, installment plans, and integrated invoicing tools that help schools collect payments from students and parents across multiple currencies and payment methods.

• Healthcare: This segment serves hospitals and health systems by providing patient payment plans, medical billing automation, and reconciliation tools that enable providers to collect payments from patients while reducing administrative costs.

• Travel: This segment serves travel agencies, airlines, and hospitality businesses by facilitating booking deposits, split payments, and refund processing in local currencies and preferred payment methods worldwide.

• B2B: This segment serves corporations and mid market businesses by delivering accounts receivable automation, invoice presentment, and payment tracking that streamline cash application and reduce days sales outstanding.

Flywire holds a strong position in the vertical specific payments market, competing against legacy bank wires, remittance providers, and generic payment processors such as Adyen and Stripe, while differentiating through its deep industry expertise, extensive global bank network, and seamless integration with enterprise systems like Epic, Ellucian, and Workday.

As of December 31, 2025 Flywire served approximately 5,000 clients worldwide, including more than 3,200 educational institutions, over 150 healthcare systems (among them four of the top ten US hospitals by size), and about 1,600 travel and B2B customers.